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German trader funded with MFF search for other German MFF traders to talk about taxes
German trader funded with MFF search for other German MFF traders to talk about taxes
Gertrader
Düsseldorf, Germany
Posts: 1 since Jan 2022
Thanks Given: 0
Thanks Received: 1
Hello everyone,
i am funded with My Forex Funds since couple weeks now. I just figured out, that live accounts at MFF actually do get real funds other like at FTMO where funded traders are trading demo accounts and their expert adviser copies the trades that have been entered with their own risk management system. Since this makes a big difference with regards to German tax law and financial laws since I am trading 100k real funds and am not only working on a Provision base I am looking for Germans that are funded as well with MFF to get some advice how they are dealing with it.
As a side fact: Germans that trade big amounts of money have to get a license and some other stuff and all that comes along with big costs of about 10k€.
If there is anyone in a similar/same Situation or just knows something that might help I would be more than thankful if you could message me either here or on telegram. @pashol0
Could someone please expand upon this or share some resources where I might be able to learn more? My Steuerberater (tax advisor) has never mentioned any such regulations to me. Thanks
Daytrader999
Ilsede, Germany
Site Moderator
Experience: Advanced
Platform: NinjaTrader 8
Broker: Rithmic / CQG / Ninja Trader Brokerage
Trading: NQ
Posts: 1,525 since Sep 2011
Thanks Given: 2,067
Thanks Received: 2,316
My tax advisor didn't mention that either. As long as you don't trade other people's money and just trade your own funds or trade with prop firms, you don't need any additional license or permission from BaFin or any other German regulators / authorities.
This applies for German GmbH's as well as for sole proprietorships / partnerships.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Thanks for the clarification. Sounds like it's not an issue for me but suggests that things could indeed get rather complicated for prop firms in Germany.
Wealth accumulation is just about impossible. The whole bureaucracy makes you want to throw up".
